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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Zhou Hei Ya International Holdings Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 11.96%.
FRA:ZHY'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.59 Med: 20.1 Max: 186.27
Current: 15.39
During the past 13 years, Zhou Hei Ya International Holdings Co's highest ROC (Joel Greenblatt) % was 186.27%. The lowest was 5.59%. And the median was 20.10%.
FRA:ZHY's ROC (Joel Greenblatt) % is ranked better than 59.01% of 1981
companies
in the Consumer Packaged Goods industry
Industry Median: 12.05
vs FRA:ZHY: 15.39
Zhou Hei Ya International Holdings Co (FRA:ZHY) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Zhou Hei Ya International Holdings Co ROC (Joel Greenblatt) % Chart
FRA:ZHY vs KHC, GIS: ROC (Joel Greenblatt) % Comparison
For the Packaged Foods subindustry, Zhou Hei Ya International Holdings Co's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Zhou Hei Ya International Holdings Co ROC (Joel Greenblatt) % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Zhou Hei Ya International Holdings Co's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Zhou Hei Ya International Holdings Co's ROC (Joel Greenblatt) % falls into.
Zhou Hei Ya International Holdings Co ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 11.96% mean?
Zhou Hei Ya International Holdings Co (FRA:ZHY) has a ROC (Joel Greenblatt) % of 11.96% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Zhou Hei Ya International Holdings Co and its competitors. This is 40% below median its historical median of 20.10. Over the past decade, Zhou Hei Ya International Holdings Co's ROC (Joel Greenblatt) % has ranged from 5.59 to 186.27. According to the industry distribution chart, Zhou Hei Ya International Holdings Co ranks #812 out of 1981 companies in the Consumer Packaged Goods industry, placing it in the top 41%.
Is Zhou Hei Ya International Holdings Co's ROC (Joel Greenblatt) % too high?
Zhou Hei Ya International Holdings Co's current ROC (Joel Greenblatt) % of 11.96% is 40% below median its 10-year median of 20.10. Over the past 10 years, this metric has ranged from a low of 5.59 to a high of 186.27. The Consumer Packaged Goods industry median ROC (Joel Greenblatt) % is 12.05. Zhou Hei Ya International Holdings Co's value of 11.96% is 0.7% below this industry median. Based on the distribution chart, Zhou Hei Ya International Holdings Co ranks #812 out of 1981 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Zhou Hei Ya International Holdings Co has a GF Score™ of 85/100, reflecting its overall financial health beyond just this single metric.
How does Zhou Hei Ya International Holdings Co's ROC (Joel Greenblatt) % compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Zhou Hei Ya International Holdings Co ranks #812 out of 1981 companies for ROC (Joel Greenblatt) %. This puts Zhou Hei Ya International Holdings Co in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 12.05. Zhou Hei Ya International Holdings Co's value of 11.96% is 0.7% below this benchmark. Historically, Zhou Hei Ya International Holdings Co's own ROC (Joel Greenblatt) % has ranged from 5.59 to 186.27 over the past decade. While the company's 10-year median is 20.10 vs. the industry median of 12.05, Zhou Hei Ya International Holdings Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Consumer Packaged Goods company?
The median ROC (Joel Greenblatt) % among Consumer Packaged Goods companies is 12.05, based on 1,981 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Zhou Hei Ya International Holdings Co's current ROC (Joel Greenblatt) % of 11.96% is 0.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Zhou Hei Ya International Holdings Co and its competitors. For the Consumer Packaged Goods industry, the median ROC (Joel Greenblatt) % is 12.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zhou Hei Ya International Holdings Co's current ROC (Joel Greenblatt) % is 11.96%, which is 40% below median its own 10-year median of 20.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhou Hei Ya International Holdings Co stock overvalued right now?
Zhou Hei Ya International Holdings Co (FRA:ZHY) has a current ROC (Joel Greenblatt) % of 11.96%. The stock's GF Value™ is €0.18, compared to a current price of €0.09 — trading 50.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 11.96%, which is 40% below median its 10-year median of 20.10 and 0.7% below the Consumer Packaged Goods industry median of 12.05. Zhou Hei Ya International Holdings Co's overall GF Score™ is 85/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Zhou Hei Ya International Holdings Co (FRA:ZHY), the current ROC (Joel Greenblatt) % is 11.96% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Zhou Hei Ya International Holdings Co (FRA:ZHY) Overvalued in 2026?
Based on GuruFocus' analysis, Zhou Hei Ya International Holdings Co stock appears to be undervalued.
The current stock price of €0.09 is trading 50.3% below its estimated GF Value™ of €0.18.
Key valuation signals for FRA:ZHY:
ROC (Joel Greenblatt) %: 11.96% (40% below median its 10-year median of 20.10)
GF Value™: €0.18 vs. price of €0.09 (50.3% below fair value)
Industry Position: 0.7% below the Consumer Packaged Goods median (#812 of 1981)
No single metric tells the full story. See the FRA:ZHY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zhou Hei Ya International Holdings Co Ltd is a China-based investment holding company. The Company, along with its subsidiaries, is principally engaged in the production, marketing and retailing of casual braised duck-related casual food. The Company mainly sells its products under the brand name of Zhou Hei Ya. Its products mainly include ducks and duck part products, braised red meat, braised vegetable products and other braised poultry. The Company mainly operates its business in domestic market, with Central China and Southern China as its majority markets.
85GF Score
Get the complete analysis for FRA:ZHY
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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